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IQ Capital makes it's first investment in the movies
A movie making tool for the mass market


March 2007 -- IQ Capital Fund is pleased to announce that it has made its first investment in a deal co-led by CREATE Partners (“CREATE”) and IQC alongside a number of experienced business angel investors. The £1 million funding will be used by ShortFuze to accelerate the commercial launch and adoption of Short Fuze’s Machinima based, movie making application – Moviestorm ™.

Short Fuze is focused in the electronic game design market and has previously done work in PC, console and mobile game production. It was founded by Matt Kelland and David Lloyd in 2003 after they sold their mobile game company nGame to Mforma Inc. Short Fuze’s Moviestorm™ is the product that this funding will be helping to bring to market. It is the first dedicated movie-making tool based on Machinima, an emerging new media form that uses a videogame engine to produce 3D animation quickly, cheaply, and easily. Moviestorm is different to games engines which concentrate on action – Moviestorm focuses on dramatic and realistic performance, using expression to convey emotion; this enables the user to make films with real subtlety and richness in animation.

Boyd Mulvey of Create Partners said: “We first invested in Short Fuze a year ago as part of the seed funding round and are pleased to see how much progress the company has made in this time. Movietstorm™ beta test version is already available for test from www.moviestorm.co.uk and we anticipate the company will be in position to launch the first commercial version in the summer of 2007. I am pleased to be joining the board as part of this significant funding round alongside IQ Capital”

Commenting on the investment, Max Bautin of NW Brown, fund manager of the IQ Capital Fund, said: “Moviestorm™ provides users of all descriptions with the opportunity to make high quality animated films that previously were the preserve of the large movie studio. Where traditional animation engines challenge the user and require a great degree of skill and experience, Movietstorm™ is easy to use and flexible, enabling the budding director to create and produce their own film from their PC.

“This is the first investment the IQ Capital Fund has made and we are pleased to co-lead it with our long standing investment partner Create. In line with IQC’s investment strategy the round also included a number of sector experienced ‘IQ’ business angels, led by a well-known Cambridge entrepreneur Jack Lang, who will not only invest in this funding round but will also strongly support the business development. We are actively working on a number of other investment opportunities and look forward to announcing other investments in the next few months”.

“It is a great endorsement for the company and our technology” said David Bailey, CEO of Short Fuze. “We are delighted with our successful fund raising, our investors have been very supportive of our aspirations and the capital that they have provided will be used to accelerate the development of our technology and speed our progress to market, through the strengthening of our product development team and to increase our business development activities. Having such high calibre investment partners on board underlines how far we have come since our seed round of funding”.


IQ Capital Fund www.iqcapitalfund.co.uk
IQ Capital, managed by NW Brown & Company Ltd, is a £25 million early stage venture fund that partners exclusively with select expert business angels to invest in seed and early stage high-tech businesses, as well as fast growing companies in more traditional sectors throughout the UK. IQ is a genuine early stage investor and will provide from £0.25 up to £2.5 million to such companies selected.

The IQ Capital Fund ensures that each investment is supported by an experienced sector expert, an ‘IQ Angel’, both financially and with hands-on strategic and operational advice. The Fund’s key asset is its network of many allied ‘IQ Angels’ which comprise some of<


Publisher Contact Information:

NW Brown Group Limited
+44 (0)20 7920 3150
ccarr@tavistock.co.uk

Company profile of NW Brown Group Limited
Past press releases of NW Brown Group Limited.

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